Mediolanum International Funds Ltd Invests $8.55 Million in Constellation Brands, Inc. (NYSE:STZ)

Mediolanum International Funds Ltd purchased a new position in Constellation Brands, Inc. (NYSE:STZFree Report) during the first quarter, Holdings Channel reports. The fund purchased 31,443 shares of the company’s stock, valued at approximately $8,554,000.

A number of other institutional investors have also recently made changes to their positions in STZ. United Community Bank boosted its stake in shares of Constellation Brands by 14.6% in the 1st quarter. United Community Bank now owns 588 shares of the company’s stock valued at $160,000 after purchasing an additional 75 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in shares of Constellation Brands by 69.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,045 shares of the company’s stock valued at $284,000 after purchasing an additional 428 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Constellation Brands by 77.6% in the 1st quarter. Salomon & Ludwin LLC now owns 174 shares of the company’s stock valued at $47,000 after purchasing an additional 76 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Constellation Brands by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 16,147 shares of the company’s stock valued at $4,388,000 after purchasing an additional 1,266 shares in the last quarter. Finally, Gilbert & Cook Inc. boosted its stake in shares of Constellation Brands by 1.6% in the 1st quarter. Gilbert & Cook Inc. now owns 5,154 shares of the company’s stock valued at $1,401,000 after purchasing an additional 80 shares in the last quarter. Institutional investors own 77.34% of the company’s stock.

Insider Activity

In related news, EVP James A. Jr. Sabia sold 15,781 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now directly owns 20,910 shares of the company’s stock, valued at approximately $5,512,503.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Constellation Brands news, EVP Michael Mcgrew sold 3,237 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $255.50, for a total transaction of $827,053.50. Following the sale, the executive vice president now owns 1,731 shares in the company, valued at approximately $442,270.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP James A. Jr. Sabia sold 15,781 shares of Constellation Brands stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $263.63, for a total transaction of $4,160,345.03. Following the sale, the executive vice president now owns 20,910 shares in the company, valued at approximately $5,512,503.30. The disclosure for this sale can be found here. Insiders sold 48,031 shares of company stock worth $12,582,321 over the last three months. 12.19% of the stock is currently owned by corporate insiders.

Constellation Brands Stock Up 0.4 %

NYSE:STZ traded up $0.93 during mid-day trading on Wednesday, hitting $253.02. 1,294,220 shares of the company’s stock were exchanged, compared to its average volume of 1,212,241. The company has a market cap of $46.30 billion, a PE ratio of 26.88, a P/E/G ratio of 1.68 and a beta of 0.87. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.19 and a quick ratio of 0.53. Constellation Brands, Inc. has a one year low of $227.50 and a one year high of $274.87. The business has a fifty day moving average price of $254.57 and a 200 day moving average price of $254.57.

Constellation Brands (NYSE:STZGet Free Report) last issued its quarterly earnings results on Wednesday, July 3rd. The company reported $3.57 EPS for the quarter, topping analysts’ consensus estimates of $3.46 by $0.11. Constellation Brands had a return on equity of 23.72% and a net margin of 22.70%. The firm had revenue of $2.66 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period in the previous year, the firm posted $2.91 EPS. The business’s revenue for the quarter was up 5.8% compared to the same quarter last year. Equities analysts predict that Constellation Brands, Inc. will post 13.7 EPS for the current year.

Constellation Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 14th will be issued a dividend of $1.01 per share. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $4.04 annualized dividend and a dividend yield of 1.60%. Constellation Brands’s payout ratio is presently 43.07%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. HSBC increased their price target on shares of Constellation Brands from $290.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, April 12th. BMO Capital Markets reissued an “outperform” rating and set a $315.00 price target on shares of Constellation Brands in a research report on Friday, July 5th. Jefferies Financial Group increased their price target on shares of Constellation Brands from $310.00 to $311.00 and gave the company a “buy” rating in a research report on Friday, July 5th. Wedbush reissued an “outperform” rating and set a $300.00 price target on shares of Constellation Brands in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Constellation Brands from $256.00 to $262.00 and gave the company a “hold” rating in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Constellation Brands presently has an average rating of “Moderate Buy” and an average target price of $300.11.

View Our Latest Stock Analysis on Constellation Brands

About Constellation Brands

(Free Report)

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.

Further Reading

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Institutional Ownership by Quarter for Constellation Brands (NYSE:STZ)

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